Latest Remediation News

DGL Group’s FY26 annual report lays bare a difficult year: revenue and underlying earnings fell, statutory losses widened and the auditor issued a qualified opinion over opening inventory. Management is betting on cost cuts, fuller facilities and a new liquid waste plant to repair performance in FY27.

Burgundy Diamond Mines has acknowledged breaching ASX Listing Rule 10.1 by entering three related-party diamond purchase agreements without prior shareholder approval. The transactions were later ratified, but an independent expert found the dealings were not fair, although the inventory was sold at fair market value.

AXP Energy has conditionally agreed to acquire seven previously producing Oklahoma wells, surrounding leases and production infrastructure for US$225,000, with a proposed US$1.05 million recompletion program. The transaction could expand AXP’s Oklahoma footprint and support earlier production, but completion, technical results and abandonment liabilities remain unresolved.

Australian Ethical Investment delivered record funds under management and a 29% rise in shareholder profit in FY26, despite weak performance from Australian equities and emerging companies. The ASX-listed ethical fund manager also increased its fully franked dividend and set out a growth plan centred on private markets, superannuation and technology.

Environmental Clean Technologies has confirmed MXene formation in two preliminary Flash Joule Heating runs, moving its US-focused programme from laboratory theory to physical product. The harder commercial tests remain ahead: repeatability, customer qualification, scale-up and shareholder approval for the Xenica acquisition and second placement tranche.

Celsius Resources has filed criminal complaints against Sodor president Erika Chalmers over an unpaid PHP300 million purchase of a 60% stake in the Makilala copper-gold project. The allegations add another legal front to a dispute already involving MMCI governance, ownership and access to corporate records.

D3 Energy has re-established gas flow at its NGT245 E well in South Africa and confirmed a 5.2% helium composition in a new sample. Further remediation is still required before production testing, while the methane result is being retested.

Tower has lifted its FY26 underlying NPAT guidance to $69 million-$79 million after large event claims came in below the allowance built into its forecast. Customer growth also remained strong, although customer remediation costs will continue to weigh on reported profit.

Vertex Minerals’ Reward Gold Mine produced 679 ounces in its first production year, but the transition came with a A$16.4 million loss, negative operating cash flow and a formal going-concern warning. The company now faces a narrow window to prove its mechanised mining plan can lift production before debt repayments and further funding decisions bite.

OFX Group is investigating unauthorised access to data involving some clients and people who have interacted with the company. The fintech says there is currently no evidence that client accounts, funds or services were affected, but the scope of the incident remains unclear.

Port of Tauranga’s Stella Passage development has been hit by an appeal and a judicial review application from tangata whenua parties. The port says the project remains urgent and will seek the earliest possible court hearing, but has disclosed no estimate of the legal or financial impact.

Group 6 Metals has posted a dramatic FY26 turnaround, with revenue reaching $129.0 million and net profit after tax rising to $148.2 million. The stronger balance sheet now faces its next test: converting stockpile-fed production and newly started underground mining into repeatable cash generation.